Shiv Nadar quits as HCL Info. chairman

BANGALORE: The founder and promoter of HCL Infosystems, Shiv Nadar, has stepped down as chairman paving the way for Ajai Chowdhry, President and CEO, to take over. The board of directors has approved this change.

Announcing the development, Mr. Nadar said Mr Chowdhry's appointment was a natural progression for successfully steering the infotech major from a hardware driven to a service oriented group. "It gives me great pleasure to hand over the prestigious mantle of HCL Infosystems' chairmanship to Mr Chowdhry, who has spearheaded the company to a clear global growth path," said Mr Nadar.

Mr Nadar, who has a major stake in the company, said he would continue as a shareholder. Mr Chowdhry will continue to hold the current post of CEO parallely with his new responsibilities.